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Dave Portnoy said he bought back Barstool Sports, the brash sports and pop-culture media company he founded, from Penn Entertainment for “pennies on the dollar.” In fact, Portnoy paid 100 ...
Barstool's founder Dave Portnoy paid just $1 to buyback his media company as ... The company also retains the right to earn 50% of the proceeds should Portnoy ever sell or monetize Barstool in the ...
[14] [15] [16] Portnoy re-purchased Barstool in August 2023 for one dollar, non-compete agreements in the gambling space, and a clause that if Barstool were to be sold again Penn Entertainment would take 50%. [17] The “Dave Portnoy Show with Eddie & Co.” was a podcast hosted by Dave Portnoy and Eddie Farrer that aired on Barstool Sports.
Barstool was sold back to its founder, Dave Portnoy, last year by PENN Entertainment after efforts to get the company into the sports betting business did not work out. Portnoy in a post on social ...
In August 2023, Penn sold Barstool back to its founder Dave Portnoy, and concurrently announced a brand licensing agreement with ESPN; the 10-year agreement is valued at $1.5 billion, plus $500,000 in options for ESPN to purchase Penn stock. Barstool Sportsbook was succeeded by ESPN Bet on November 14, 2023.
In August 2019, Barstool owner David Portnoy posted a series of tweets in which he threatened to fire "on the spot" any Barstool employee who contacted a reporter to talk about unionization, as well as reposting a 2015 article in which he threatened to "smash their little union to smithereens" if Barstool employees attempted to unionize. [96]
Portnoy now owns 100% of Barstool’s media business but will have to give Penn 50% of the gross proceeds if he sells the company, something the man who refers to himself as El Presidente has ...
Dave Portnoy, now 100% owner of Barstool Sports after former parent Penn Entertainment sold it back to him — concurrent with Penn’s major 10-year sports-betting deal with ESPN — has admitted ...